underwriting syndicate
noun [ C ]
ukus STOCK MARKET
a group of financial organizations that underwrites new shares, bonds, etc.:
The non-government bonds will be sold through a full auction on the Tokyo market, rather than through an underwriting syndicate.
INSURANCE
a group of people or companies that underwrites insurance policies and pays out money in cases of damage or loss:
It is not really an insurance company, but a society of members who form underwriting syndicates to accept risk.