German Insurer Busted for Unusual Company "Perk"

Munich Reinsurance Co. has confessed that about 100 of its top producers were given prostitutes during a 2007 orgy at Budapest's thermal baths that was organized by the company.

The company issued the following statement: “We confirm that several prostitutes attended one evening event during the multiday trip to Budapest. Further details are currently under examination."

The statement continued, “This constitutes a grave violation of binding company guidelines, in particular the ERGO Code of Conduct which applies to all employees, executives and board members of all companies of the entire group in Germany and abroad."

The senior company official who approved the inappropriate bonuses is no longer with the company.

To keep the orgy a secret, guests were searched prior to entering the thermal baths and no photos or videos were allowed.