Retroviruses are unusual amongst animal viruses in their capacity to integrate into host genomes and be transmitted vertically to host progeny. Vertebrate genomes contain numerous and diverse retrovirus-derived sequences reflecting a long co-evolutionary history during which genome invasion has occurred repeatedly, with wide-ranging evolutionary consequences. Over the past 10 years, a detailed picture of retroviral diversity throughout vertebrate genomes has emerged, revealing striking and informative patterns that differ markedly across species. The power of these data to deliver far-reaching insights into the biology and evolution of retroviruses has been significantly advanced by recent studies identifying ongoing genome invasion in wild populations, and by the characterisation of conserved mechanisms of innate antiretroviral defence.