German Insurer Organized Orgy for Best Salesmen

A German insurance company says it organized an orgy with prostitutes in a renowned Hungarian spa to reward its best salesmen.

A spokesman for Ergo insurance said one of its subsidiaries had organized the party in Budapest’s art nouveau Gellert Baths in a clear violation of the company’s values.

Alexander Becker said about 100 of the company’s best salesmen had been invited to the orgy, which featured numerous scantily clad hostesses and about 20 prostitutes.

He added those responsible for the June 2007 trip have left the company.

Prostitution is legal in Hungary and Germany.

Ergo belongs to Munich Re, one of the world’s biggest reinsurance companies, in which U.S. billionaire Warren Buffet’s investment firm Berkshire Hathaway holds a 10 percent stake.