surrendersur·ren·der1 /səˈrendə-ər/ verb1[transitiveT]INSURANCE if you surrender an insurance policy, you stop it before it MATUREs (=becomes due for payment) and receive only a part of what it would have been worth if you had kept itMany policyholders had held theirannuities for years because of heavy penalties forsurrendering them.
The firm paid out $1.33 billion in the first quarter to customerssurrendering insurance policies.
→ compare redeem 2[intransitiveI, transitiveT] if someone surrenders their power, influence, high position etc, they allow someone else to have itEight months after taking over the running of the business, shesurrendered thatauthority to a man who had only just joined.
He plans tosurrender his majorityownership of the company.
3[transitiveT] journalismFINANCE if shares etc surrender their value, price etc, the value, price etc fallsAftersurrendering 39% of itsvalue in the early 1990s, the Nikkei average has moved steadily upwards.
4[transitiveT]LAW to give something to an official authority when it is asked forUnder the Bankruptcy Code, debtors must surrender most of theirassets.
The seven men have been granted bail on condition that their passports be surrendered.