This article analyzes the impact of insurance development on international trade for a sample of 52 developing countries over the period of 1990 to 2014. The results from the pooled mean group estimator indicate that the countries with a better developed insurance sector have a comparative advantage in international trade in the long term. The sample is then divided into low- and lower-middle-income countries and upper-middle-income countries. For the upper-middle-income countries, the development of non-life insurance plays a much more important role than it does for low- and lower-middle-income countries.