German insurer Ergo organised orgy for salesmen

[Fuzz]

-edited- found a better version of the story

The party for about 100 insurance agents was held at Budapest's historic Gellert spa in 2007, company spokeswoman Alexandra Klemme said, as she confirmed the story which appeared in newspaper reports Friday.

A manager and a management-board member who approved the party departed the company before other senior executives learned details of the party, Ms Klemme added.

Prostitutes hired for the event were designated with armbands, German newspaper Handelsblatt reported. The women escorted party attendees to beds set up near the spa's thermal baths and earned a stamp on their forearm upon their return to keep a running tally of their services, the newspaper said.

Handelsblatt quoted from the affidavits of several people who were at the party and described the scene.

"I and the other participants were searched at the entrance, like an airport security check," said one, while another detailed how "the women then entered and showed us what they had.

"It was clear to everyone taking part that they were hookers."

"The ladies wore red and yellow wristbands. One group were there as hostesses, and the others were to fulfill any and every desire," added another party guest.

There were also women with white wristbands, apparently reserved for directors and the top five salesmen.

"This incident is clearly not at all in line with any rules and ideals our company stands for," said another company representative, Alexander Becker, in an interview Thursday.

He said the company was still investigating but that the hiring of prostitutes was "a single incident" that was not repeated.

While the two employees most responsible left as a result of a restructuring, "we have to dig a bit deeper into details of that incident to see whether there are others still with us," Mr Becker said.

The Munich Re unit that hosted the party - Hamburg Mannheimer - was a part of the company's Ergo Insurance Group, which sold life and property-casualty insurance. Insurers occasionally reward the top agents that sell their policies with lavish parties at luxury locations.

The agents are not employees but independent contractors who earn commissions on their sales. Ergo says on its website that it has 22,460 such full-time agents worldwide.

[MrGlass]

Well clearly I am working for the wrong company.

[tmac77]

We actually do quite a bit of business with Munich Re and I never got invited to one of those parties

[Kangaroo495]

Damn, if that makes the news in Europe, the press would have a field day if they ever found out about Russian corporate parties!

[frenchkiwi]

Damn, if that makes the news in Europe, the press would have a field day if they ever found out about Russian corporate parties!

Ok Kangaroo, don't leave us in the lurch, spill the beans ...

[Kangaroo495]

Ok Kangaroo, don't leave us in the lurch, spill the beans ...

I don't think I should.. on an open forum anyway!

Let me just say that it goes beyond all boundaries of absurdity. Somewhere between Cezanne's "The Orgy" and a WWE Royal Rumble.