Allianz Global Corporate & Specialty has lost four members of its property owners' team just months after 13 people joined from rival insurer, Norwich Union (NU).
Former business manager Norman Few and senior underwriters Julie Fletton, Lucy McLean and Stewart Stokes will leave Allianz to join Royal & SunAlliance (R&SA) early next year.
They will form part of R&SA's property investors' division as overseas property investor specialists, with particular focus on the multi-national needs of clients.
Their departure comes after the mass resignation of 13 members of NU's property owners' division in March.
David Cooper, former head of NU's London Property Owners, and 12 other members of his team left the insurer to join Allianz.
A source close to Allianz Cornhill said Few, Fletton, McLean and Stokes had been with the global risks division for some time.
But, it is thought they were unhappy with the new set-up following changes made at the beginning of the year.
The move to R&SA follows a number of other recent appointments to the insurer's property investors team, including Julia Abrams as director, account management, James Bell and Kate Sutton as account managers, George Maxwell as regional director and Chris Withers as manager, South area.
Nigel Salisbury, director of R&SA's property investors division, said: "Their appointment reflects our intent to grow our international portfolio in response to increasing demand.
"The breadth of knowledge, contacts and expertise this team brings, alongside our existing capability and network, means we will be extremely well placed to handle the overseas needs of our clients for the future."