German insurer Munich Re threw one heck of an office party — an orgy — for 100 of its best employees as a reward for their hard work.

Held at a thermal baths in Budapest, Hungary, attendees were reportedly presented with 20 colour-coded prostitutes.

“The women wore red and yellow wrist bands. One lot were hostesses, the others would fulfill your every wish,” reported the German newspaper Handelsblatt.

The white-banded girls were reserved for the big bosses.

Quoting an anonymous attendee, the paper said guests were able to take the women to four-poster beds at the spa “and do whatever they liked.”

The party, held in 2007, was reportedly discovered by a shareholder at the company’s annual general meeting this year. Munich Re is the world’s largest re-insurance company, which means they act as an insurer for other insurance companies.

At the event, women were stamped on the lower arm after each sexual encounter to keep track of how often each one was “frequented,” Handelsblatt reported.

A spokesman for Ergo confirmed to the BBC that the party had happened, but said it was not the usual way of rewarding their employees.

The company said it had since introduced a new code of conduct, and the organizers of the event have left the company.

“We’ve taken all the right steps to prevent it happening again,” the spokesman told the BBC. “It was a mistake but we are very sure that it was a unique event.”

“The new people of the sales organization introduced a very personal commitment that these things should not happen again.”

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