An indexable cutting insert has two cutting protrusions extending from opposite end surfaces towards a mid plane. Each cutting protrusion has a rear surface, an oppositely facing rake surface, a relief surface. A main cutting edge is formed at the intersection of the rake and relief surfaces, and extends between two main cutting edge ends. An edge projection is formed by a line connecting longitudinal projections of the main cutting edge ends of each main cutting edge. The edge projections of both of the main cutting edges form a non-zero first angle therebetween. The rake surfaces of the cutting protrusions are located on longitudinally opposite end surfaces of the cutting insert. Two clamping recesses and two abutment recesses serve as contact surfaces for clamping the cutting insert in an insert pocket of a cutting tool.