通过复盘，我们发现大多数年份中保险股股价在四季度至次年1-2月会出现阶段性高峰，我们认为对负债端业绩的预期是重要因素，一方面接近年底，保险公司全年保费收入情况基本落地，对当年业绩预期增加更多确定性，另一方面，四季度是保险公司备战次年开门红的重要时点，对于开门红的预期往往在四季度体现，而在次年一季度兑现，市场通常“买预期、卖事实”，且年底面临估值切换，四季度是布局保险重要时机。

A gift card is a stored value card that is utilized as an alternative source for money at a particular store or business store for purchases related to goods or services. The two major types of gift cards considered under the scope of the report namely open loop gift cards and closed loop gift cards. Closed loop gift cards can be used at a selected outlet or group of outlets depending on the issuing authority. The growing use of ecommerce i.e. digital payments/wallets makes it convenient for consumers to track, manage and redeem gift cards. The gift cards market is expected to experience significant growth during the forecast period, owing to technological innovation in product offerings, and increase in application areas such as hospitality, banking and retail stores. In addition, rise in need for advanced promotional strategies, high adoption rate of smart phones, and growth associated with e-commerce industry drives the global gift cards market. Moreover, increase in popularity of these cards during traveling and increase in demand for gift cards from developing countries are expected to boost the market growth in the future. However, various types of fees associated with card transaction and dearth of security measures as compared to credit or debit cards are major restraints that hinder the growth of the market.

According to a WHO report, Helth Employment and Economic Growth: An Evidence Base(2017) women represented 70% of the 43 million global healthcare workforce. Additionally, women also represent a significant share of the informal care givers (taking care of patients at home). However, depite the large number of healthcare professionals being women, females are underrepresnted as decision makers. For instance, according to the World Economic Forum report on gender gap, only 35% of the women hold the leadership roles in the global healthcare industry (2017). Moreover, only 25% of the private organizations and 20% of the government leadership boards follow gender parity (2017). The absence of female decision makers in the venture capital (VC) firms is also evident. For instance, according to a report by International Finance Corporation (IFC), in 2017, only 10% women were decision makers or had a role in decision making in the venture capital firms globally . The lower representation of women in VC firms has led to the low capital flow in the women-led enterprises. For instance, according to the IFC report, the women-led enterprises garnered less than 3% of the total global venture capital in 2018.