COFACE SA (ENXTPA:COFA) is looking for M&A. Xavier Durand said, "In terms of deals, yes, we're -- I mean, we're open to doing M&A. I think our scope is both on the insurance side and on any other things that would add value to our core franchise, which we define as for our Build to Lead plan. So the main pillar and the adjacent businesses. So we're looking.

But as you know, we've always been, I would say, picky in a good sense that we want to do the right deal, and we're just not looking for growth for growth's sake. So we're open".