From Longman Dictionary of Contemporary Englishunderwriteun‧der‧write /ˌʌndəˈraɪt $ -ər-/ verb (past tense underwrote /-ˈrəʊt $ -ˈroʊt/, past participle underwritten /-ˈrɪtn/) [transitive] 1 formalSUPPORT A PERSON, GROUP, OR PLAN to support an activity, business plan etc with money, and to take financial responsibility if it fails The government has agreed to underwrite the project with a grant of £5 million.2 BFI technical if an insurance company underwrites an insurance contract, it agrees to pay for any damage or loss that happens3 technical to arrange to sell shares to investors, and to agree to buy any which are not bought by them→ See Verb table
Examples from the Corpus
underwrite• His definite line was that they too were up against spending limits and therefore unable to underwrite any conference at that time.• The project is underwritten by a National Science Foundation grant.• The venture was underwritten by several companies.• A more selective approach to underwriting Commercial motor business has also been adopted following adverse experience on major fleets.• They are adept at arranging huge loans, underwriting stock offerings and putting together multinational mergers.• Merit Capital Associates of Westport, Connecticut, is underwriting the offering.• The British government has agreed to underwrite the project with a grant of £5 million.• The discount houses have a traditional undertaking to underwrite the whole of the Treasury bill tender.From Longman Business Dictionaryunderwriteun‧der‧write /ˌʌndəˈraɪt/ verb (past tense underwrote /-ˈrəʊt-ˈroʊt/, past participle underwritten /-ˈrɪtn/) [transitive]1FINANCE if a financial institution underwrites a SHARE ISSUE, it arranges to sell shares to investors and agrees to buy any shares that are not bought by themAn underwritten offer may be the only way a company can raise money.2INSURANCE if an insurance company underwrites an insurance contract, it agrees to pay for any loss covered by the contract3FINANCEto agree to pay the cost of something and to take financial responsibility for it if it failsA local company has underwritten some of the development costs.The government has agreed to underwrite the project with a grant of £5 million.→ See Verb table 