The purchase follows the 2019 launch of the Lion Rock Re sidecar.
The carrier has agreed to reinsure legacy business underwritten by Zurich from 1 October 2015 to 30 September 2018.
Its first transaction in the Asian market leaves the run-off group with assets totalling $7.2bn.
The move followed a decision by China Minsheng to put the business up for sale.
An Exor source said the transaction “makes even more sense now”.