The World: Tokyo - O&M to battle Dentsu for Prudential marketing task

Ogilvy & Mather and Dentsu are set to go head to head in the contest for Prudential Corporation Asia as the insurance giant gets ready to expand its marketing activity in Japan.

The two agencies were chosen for the final round after an initial phase that included Hakuhodo, DraftFCB and McCann Erickson. The business is expected to be worth between $7 million and $12 million in revenue to the successful agency.

Prudential is currently ranked 35th in Japan's insurance market. "It needs to put quite a lot of money behind the effort if it wants to compete," an industry source said.

Prudential is the biggest manager of retail funds in Japan, despite writing off $240 million following its acquisition of Orico Life to enter the market in 2001.