You are to make a presentation to your client regarding a potential investment in a major insurance company. You learn that the insurance company has hired a consultant to help it to implement an immunization strategy. Explain the following

1) Briefly explain what is meant by the process of immunization.

2) You know that one investment strategy that your client is considering is to buy call options (where the underlying asset is the stock of the insurance company). If the insurance company successfully implements the immunization strategy, how would the value of these call options be affected? .