LJUBLJANA (Slovenia), May 28 (SeeNews) - Slovenia's insurance regulator has again rejected a request by insurer Croatia Osiguranje to increase its stake in Slovenian insurer Pozavarovalnica Sava, known as Sava Re, to 20% or more, the Croatian company said on Monday.

Croatia Osiguranje and its holding company, diversified conglomerate Adris Grupa, planned to become owners of equity totalling 20% or greater in Sava, the former said in a Zagreb bourse filing.

The Croatian insurer said it is now in a position to file a suit against the decision with the Administrative Court of Slovenia.

In March, Slovenia's Administrative Court ruled in favour of Adris Grupa and its insurance unit in a lawsuit they lodged against the country's insurance regulator for the same reason.

The Slovenian Insurance Supervision Agency, AZN, had earlier banned Adris and its insurer from acquiring shareholding interest of 20% or more in Slovenian re-insurer Sava Re, following which the Croatian companies appealed the decision in court.Following the ruling of the court, AZN's decision was repealed and will be reconsidered, Adris said at the time.