[f. as prec.]
1. The action of writing beneath, esp. of appending one’s name to a document; also, that which is so written.
1598. Florio, Sottoscrittione, a subscription, a signing, an vnderwriting.
1622. Malynes, Anc. Law-Merch., 166. The later vnderwriters of the Assurors … reserue onely … 10s. for their vnderwriting in the policie of Assurance.
1642. (title) That Great Expedition for Ireland By way of underwriting proposed by both Houses of Parliament … is heere Vindicated.
2. spec. a. The action or practice of (marine) insurance; the business of an underwriter. Also attrib.
1775. Ash, Underwriting, the act of insuring by writing the name under certain conditions.
1887. Daily News, 26 Jan., 6/4. The Union Marine Insurance Company show an underwriting income of 172,133l.
1905. Times, 13 Sept., 2/6. One of the blackest years in the history of underwriting.
b. The action of agreeing to take up shares (see UNDERWRITE v.1 4 b). Freq. attrib.
1895. in Times Law Rep. (1897), XIII. 156. Underwriting letter for ordinary shares. Ibid. (1897), 569. An underwriting agreement … between the two companies.
