Catastrophe insurance helps in protecting residences and businesses against natural disasters like hurricanes, floods, earthquakes, and against man-made disasters such as terrorist attacks. Generally, catastrophe insurance has a low probability that involves high-cost events. These high-cost events are excluded from the standard hazard insurance policies. It is difficult to estimate the total potential cost of an insured loss thereby making it difficult for the catastrophe insurance issuers to effectively manage risk. Retrocession and reinsurance are used with catastrophe insurance to manage catastrophe risk.

The global aerospace insurance market is expected to decline until 2017 following the growth trend from the past decade due to the declining premium prices.However, we estimate the market to grow 2018 onwards, with the growing aerospace industry due to the procurement of new aircraft and establishment of new airports.The market is dominated by premium airlines followed by low-cost airlines. The rising number of passengers has triggered the civil aviation industry worldwide to refurbish facilities. The rise in air passenger traffic will likely propel the aerospace insurance market during the forecast period.EMEA has the highest market share in the global aerospace insurance market due to a high number of aircraft and airports operational in the region. However, APAC is expected to witness a high growth rate due to the expansion of aircraft fleets and aerospace facilities in the region.

B2B media refers to the communication channel between the vendors and their customers. For a B2B vendor, the customer cannot necessarily be a consumer. Business organizations constitute the customers of B2B vendors and require a different media mix to get business from them. For instance, if a vendor has to pitch in for hydraulic hose pipes, an engineer from the company will bring his engineering experience into the discussion to justify the decision to the superiors, who work in the same field. In contrast, the home owner will care little about the technicalities in the manufacturing of hose pipes that are being used in the garden.

板块上周走势回顾 银行: 过去一周A 股银行板块下跌0.1%，同期沪深300指数上涨0.5%，A 股银行板块跑输沪深300 指数0.6 个百分点。按中信一级行业分类标准，银行板块涨跌幅排名26/29。

基亍我们观察到的一些数据以及对行业的长期跟踪，我们预计2017 年银行股将迎来业绩不估值的双重提振，银行板块整体将迎来上升机遇。 我们在本文中详细梳理了2017 年银行业的几个基本投资逻辑，其中也涉及到近期在金融去杠杆背景下的严监管政策—包括MPA 考核纳入表外理财、同业存单纳入同业负债等—对银行业资产负债表的影响。

随着金融去杠杆的深化，2017 年MPA 考核趋严，部分中小银行可能受到一定约束，由于预期充分，预计对基本面的影响不大。鉴于银行板块核心逻辑未变，业绩向上拐点+不良反弹趋缓带动估值中枢小幅提升，同时自2016Q4 以来融资需求持续保持比较旺盛的状态，我们看好银行基本面的企稳回升；当前板块估值处于合理偏低区间，配置价值提升，我们维持对银行板块的买入评级。

本周五银监会发布了《关于外资银行开展部分业务有关事项的通知》，通知明确，在华外资银行可以与母行集团开展内部业务协作，为“走出去”的企业在境外发债、上市、并购、融资等活动提供综合金融服务，发挥外资银行的全球化综合服务优势。