Munich Re, the world's largest reinsurance company, has admitted it used prostitutes to reward staff after details of a 2007 sex party were discovered by a concerned shareholder.
The company said it was conducting a full scale investigation to look into the 100-person sex party that took place in 2007. However, the German insurance giant, recently hit by heavy losses from the Japan Earthquake and the Australian floods, said it could not be sure it was the only "incident" of its type at that time.
The party was held in the Hungarian capital Budapest for top performing salesman of the insurance company's Ergo division at the height of the 2007 economic bubble.
Twenty escorts were hired for the event and required to wear colour-coded armbands. Red: for hostesses that were available for flirting but who did not perform sex acts.
Yellow armbands were given to women available for sex and who, according to one participant quoted in a German newspaper, took men to four-poster beds at the Budapest spa to "do whatever they liked" fulfilling their "every wish".
A select few at the orgy wore white arm brands to signify they were available only to executives and top salesmen.
Source and full article: The Telegraph, 19 May 2011
So what do the saleswomen get?
They get to sit at the back of the bus.