The insulation readings of a motors windings won't necessarily indicate how long it will last. This is especially true with a newly rewound motor. The insulation readings can change rapidly with the temperature. When the motor gets warmer any dampness will dry out giving better readings. Also you're using a thousand volt test. If the motor is 380-400v 3-phase, then a 500volt insulation test will be a better reflection of the insulation at the running voltage.
A 380volt motor testing 200000 ohms @ 1000volts shouldn't be a safety issue.
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