Yes, but Horsepower is 50% higher. I'm certain that will be of interest to insurance companies.
I don't expect the Redline to be much much more than a standard Sky, to begin with. Maybe 15-20% more. The real question is, will the car remain that low or will theft/accident history push the cost to insure up? Nobody knows yet. We'll have to wait and see. Initially, the insurance cost should not be too much more than the base car.
Just because the car has 260HP does not mean it will be expensive to insure. When I was looking into them, I found that insurance for a 400HP GTO was only $100 more than I am paying on my Silverado.
It all comes down to theft and accident rates.