Syndicate

{
  "id": "MLC-T-INS-003264",
  "term": "Syndicate",
  "field": "Insurance and risk management",
  "definition": "A group of insurers or reinsurers that pool their capital and expertise to underwrite large or complex risks that a single insurer might be unwilling or unable to cover alone. Each member of the syndicate assumes a specified percentage of the risk and receives a corresponding share of the premium. Lloyd's of London is a prominent example of an insurance market structured around syndicates.",
  "url": "https://mlchart.com/terminology/insurance/syndicate/"
}