The most common and most likely answer to this crossword clue is the 9 letter word CHRYSALIS
I've seen this crossword clue in Financial Times
C
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More clues leading to the result CHRYSALIS
- Future monarch possibly has lyrics revised
- Cast has lyric soprano as potential Butterfly?
- Rich lass distraught about unknown insect developing
- Moth to be found in empty church? Roy Marner’s upset
- Potentially one of 18 lyrics has to be revamped
- Rocky lays into Patten, flier of the future?
- Case for building-up, ready for the maiden flight
- Fancy rich lass carrying unknown flier’s case?
- A case of building up ready for the maiden flight
- Young winger is rashly replaced after cold
Buddy explains!

The straight part
We know that "insect developing" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case insect developing = chrysalis.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does CHRYSALIS mean?
CHRYSALIS noun- The pupa of a butterfly or moth, enclosed inside a cocoon, in which metamorphosis takes place.
- The cocoon itself.
- A strong constraint; shackles.