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Insurer Munich Re investigates 2007 company sex party held in Budapest

Munich Re, has begun a full fledged investigation into a sex party involving 100 people which allegedly took place at a spa in Budapest during 2007 to reward top performing salesmen of their Ergo division, stated Telegraph.co.uk today.

Twenty escorts were hired for the event, whose availability and services were signified by colored armbands. Red armbands were worn by the escorts who "just" flirted with employees and yellow was worn by those who were available for sex. A select few wore white armbands to indicate their exclusive availability to executives and "top salesmen."

While a spokesperson from the company, which is an insurer or insurers, could not say for certain that it was the only occurrence of such an 'incident,' they did state to The Daily Telegraph that it has not happened since 2007 and the team's two department leaders left in the same year. "We are still investigating what happened and people are talking to us from the sales force. It is shocking and unacceptable," stated the spokesperson.

The story popped out when a shareholder at an annual meeting held in April asked the company if such an event took place.