German insurer rewarded top agents with “killer fun” sex party

A German insurance company awarded its best agents with a decadent sex party at a Budapest bathhouse involving 20 prostitutes, who offered varying degrees of sexual favors according to color-coded arm bands, according to a leading German business newspaper.

According to the Handelsblatt website, about 100 guests of Munich Re subsidiary Ergo Versicherungsgruppe gathered at the Gellert spa "and transformed the historic site into an open-air brothel."

The company later bragged about the party in their magazine, HMI Profil. It was "killer fun," the magazine wrote, according to Der Speigel's translation.

Handelsblatt reported that women wore armbands: red for hostesses, yellow for sexual favors and white for prostitutes reserved for top executives and agents.

Guests coming into the sex party were searched before entry and forbidden from taking cameras inside, according to one guest Handelsblatt interviewed, CNN reports.

The newspaper said the prostitutes would get a stamp on their forearm to keep a tally of services through the night. 

The baths were closed to the public during the event, but someone there reportedly described the following scene to Handelsblatt: "Between the two thermal springs a stage had been built on which two prostitutes and a man who claimed to be a pimp were pleasuring each other."

Munich Re, which confirmed to Handelsblatt and other media the incident occurred, has since fired the executives responsible for hosting the party, Business Insider reports.

The party was “a clear violation” of company policy, Alexander Becker, a spokesman for the Munich Re subsidiary told Bloomberg.

Two employees most responsible for the sex party have since left the company after an unrelated restructuring, Dow Jones Newswires reports. “We have to dig a bit deeper into details of that incident to see whether there are others still with us," Becker told Dow Jones.