In Depth: Where China’s Insurers See a Booming Business, Regulators See Risks

At first glance, Yan Garden looks just like another high-end residential compound on the outskirts of Beijing — a few apartment buildings scattered among lush greenery and enclosed in a walled perimeter with gates that are guarded 24 hours a day.

But a closer look reveals this is no ordinary compound — it’s built specifically to cater for seniors above the age of 55 who pay more than 10,000 yuan ($1,444) a month for a room, use of the facilities — including a rehabilitation hospital — as well as services and activities such as playing pool, taking yoga classes, and learning to swim with a retired professional swimmer.