At first I thought I noticed a bee on our fence, but then I realised that the insect only had one pair of wings showing, so I began to suspect a Hoverfly. It seems to be a Pellucid Fly, Volucella pellucens, which you can see on this site, if you scroll down. You can read more about it here.
I associated the word 'pellucid' with (sea) water, and in fact it can mean 'limpid' (as in a favourite translation of Aristophanes' comedy, 'The Frogs', in which the frog chorus inhabit the 'limpid lakes'), or 'clear' in the sense of admitting the maximum passage of light. I imagine this may refer to the wings of the fly, but perhaps it refers to the distinctive alabaster-like band!

