So this is my first answer here, and because I needed something similar I did with pseudo elements for 2 inner shadows, and an extra DIV for an upper outer shadow. Don't know if this is the best solutions but maybe it will help someone.
HTML
CSS
.overlay {
background: #f7f7f4;
height: 185px;
overflow: hidden;
position: relative;
width: 100%;
}
.overlay:before {
border-radius: 50% 50% 50% 50%;
box-shadow: 0 0 50px 2px rgba(1, 1, 1, 0.6);
content: " ";
display: block;
margin: 0 auto;
width: 80%;
}
.overlay:after {
border-radius: 50% 50% 50% 50%;
box-shadow: 0 0 70px 5px rgba(1, 1, 1, 0.5);
content: "-";
display: block;
margin: 0 auto;
position: absolute;
bottom: -65px;
left: -50%;
right: -50%;
width: 80%;
}
.shadow {
position: relative;
width:100%;
height:8px;
margin: 0 0 -22px 0;
-webkit-box-shadow: 0px 0px 50px 3px rgba(1, 1, 1, 0.6);
box-shadow: 0px 0px 50px 3px rgba(1, 1, 1, 0.6);
border-radius: 50%;
}