It can be if it gets to an extreme (i.e., type II diabetics and obesity).
GH, cortisol, oral androgens and progesterone increase insulin resistance. That means that for the same level of blood glucose, your body has to produce more insulin to dispose of it. There is some thought that progesterone has a negative effect on Glut-4, but that's unclear.
Even during the luteal phase of the menstrual cycle, both glucose and insulin may be increased in comparison to the follicular phase.
If you're not obese, exercise regularly, are not type II diabetic you should have nothing to worry about.
W6