DENMARK - A call for extraordinary reporting of pension funds' positions to the Danish Financial Supervisory Authority has revealed all but three of 61 companies have been given the green light to show their finances were on track to the end of September.

The Financial Supervisory Authority asked all life insurers and pension funds in Denmark to deliver information about the status of their pensions fundin by 31 September as it felt the need for closer supervision during the financial crisis, and that close supervison will not continue.

However, data has revealed a positive surprise in the current market turmoil as the Danish life insurance and pension fund's position was largely unaffected in the third quarter 2008 compared with Q2 2008.

Only three out of 61 companies are listed as having yellow lights on 30 September, according to a statement from the Financial Supervisory Authority - confirming this it is precisely the same position as three months earlier.

Four out of 37 corporate pension funds were on a yellow light by 30 June this year, while one had in red light.

Danish supervisors note the global financial crises sits behind the less than positive results for some pension providers earlier this year.

However, turbulence in the financial markets this month has forced the Financial Supervisory Authority to demand pension funds and life insurance funds file further extraordinary reporting of traffic light positions again by 31 October - just one month after their quarterly reporting.

"The current changes in the financial market indicate that the companies will restructure their assets more often than usual. We want to be able to keep up with our daily market surveillance, and therefore we need alerts within a shorter interval than under more normal market conditions, "said Jan Parné, vice president of the FSA.