In May , Ergo Versicherungsgruppe, a Dusseldorf, Germany-based subsidiary of Munich Re, was at the center of a huge scandal when details of a huge, prostitute-filled party in Budapest appeared in the German press. It was described as "killer fun" by one attendee , but others weren't so sure. Ergo has finally released a report investigating the party. Some of the new details are interesting β for example, Der Spiegel notes that a boat floated by on the nearby Danube River carrying "topless hostesses" holding placards reading "We love HMI".
But what may be even more damaging is financial irregularities during the trip. The report also reveals that the company may have had a history of excess. Der Spiegel reports that "prostitutes were flown in as part of an HMI leadership seminar at Lake Zurich in the late s. Prostitutes in Budapest say that corporate sex parties are surprisingly common, and the only thing exceptional about the Ergo party was its scale.
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