German insurer Munich Re has admitted it has hired 20 prostitutes as a reward for around 100 of its top sales executives at a party hosted in Budapest in 2007.
A spokesman who spoke with Dow Jones confirmed a report in Handelsblatt which claimed the 20 women were hired for a party in Budapest’s historic Gellert Spa.
According to the report the 20 women where given arm bands and then escorted party attendees to beds and then earning a stamp on their forearm to keep a running tally of their services.
"This incident is clearly not at all in line with any rules and ideals our company stands for" a Munich Re spokesperson told Dow Jones.
The executives who signed off on the party left the company before the “single incident” was exposed.
"We have to dig a bit deeper into details of that incident to see whether there are others still with us” a spokesman told Dow Jones.
The party was hosted for independent contractors who sold insurance products for Munich Re’s Ergo Insurance Group.
( Source: CNBC )
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