An insulating varnish for forming an insulating covering on a conductor includes a polyimide resin including a repeat unit represented by a general formula (1): where X1 includes a tetravalent aromatic group including an aromatic ether structure represented by a formula (3): and Y1 includes a bivalent aromatic group including an aromatic ether structure, and a repeat unit represented by a general formula (2): where X2 includes a tetravalent alicyclic group and Y2 includes a bivalent alicyclic group including an alicyclic structure.