activities, aircraft leasing activities, or conducting in-house corporate treasury and fund administration functions for their parent. There are few examples of foreign banks conducting higher margin asset management, investment banking or corporate finance from their IFSC platform (instead usually favouring their bases in London, Paris, Frankfurt or Luxembourg in Europe). The trade body for the IFSC and non-IFSC banking sector is the Irish Banking Federation. Insurance The main insurance activities cover life insurance, general insurance, reinsurance and captive insurance. There is little insurance risk originated or underwritten in the IFSC and London remains the primary global base for these activities. The only remaining listed Irish insurance company is FBD Holdings which is one of the smaller players in the Irish insurance market. The IFSC occasionally provides an accounting and administration service for products sold on a pan-EU basis through the parent's main channels. The IFSC has a niche strength as a top location in the relatively small Captive Insurance market. The trade body for the IFSC Insurance sector is the Dublin International Insurance & Management Association (DIMA). Aircraft leasing The IFSC is the largest aircraft leasing hub in the world with 14 of the top 15 aircraft lessors headquartered in Ireland (including AerCap, GECAS, SMBC and Avolon) and circa 50% of the world's fleet of leased aircraft is managed through IFSC companies. Unlike some other IFSC sectors, the Aircraft Leasing sector includes high margin activities such as origination and financing as well as accounting and administration. While the sector employs around 5,000 people (1,700 directly) (versus Fund Administration at almost 10,000 jobs), and pays less than €40m in Irish corporate tax it is estimated to provide over €500m annually to the Irish Economy (from salaries and fees) making it one of the most valuable sectors in the IFSC. In May 2019, figures from the Department of Finance showed that since 2012, the net assets of the aircraft leasing industry in Ireland was close to zero (€141 billion in Irish domiciled aircraft assets offset by €141 billion in offshore financing); and that the aircraft leasing industry paid only €54 million in Irish corporation tax in 2018. The average salary of employees in the aircraft leasing sector is estimate to be in the region of €165,000. The closest related trade body for the IFSC Aircraft Leasing sector is the Irish Aviation Authority (IAA) (not exclusively IFSC focused). Aircraft Leasing Ireland (ALI) also