Despite the impact of COVID-19 both on working conditions and exposures – and with discussions of the latter largely deferred until after 1 January treaty renewals – reinsurers have largely arrested the persistent downward trends which characterised recent years. For buyers, terms and conditions have overall been less onerous than initially feared again revealing the efficient working of the global reinsurance market, according to the latest 1st View renewals report from ICMIF Supporting Member Willis Re.