This study investigates about the effects of world and trading-block insurance market liberalization. For this purpose, a computable general equilibrium (CGE is used.  The model consists of 8 regions and 5 sectors. Except for the insurance and financial sectors, all other sectors are considered as perfectly competitive. To capture an imperfectly competitive structure, we assume that insurance firms with a non-competitive structure charge customers a price higher than their marginal cost. Then we estimate the Global Trade Analysis Project (GTAP) model under a perfectly competitive and imperfectly competitive structure. Comparing the results of moving toward liberalization (i.e. moving from an imperfectly competitive structure to a perfectly competitive one), we conclude that nations can gain from trade in insurance by taking progressive steps toward liberalization based on General Agreement on Trade in Services (GATS) commitments.