You can try the following:
select 'insert into table1(Male,female)values('+ Isnull(cast(case when Gender = 'M' or Gender = 'B' Then '''True''' else '''false''' end as varchar),'NULL')+','+ Isnull(cast(case when Gender = 'F' OR Gender = 'B' Then '''True''' else '''false''' End as varchar),'NUll')+')' from Table2
or like this:
select 'insert into table1(Male,female)values('+ Isnull(cast(case Gender when 'M' Then '''True''' when 'B' Then '''True''' else '''false''' end as varchar),'NULL')+','+ Isnull(cast(case Gender when 'F' Then '''True''' when 'B' Then '''True''' else '''false''' End as varchar),'NUll')+')' from Table2
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