An indexable cutting insert comprises a flank face having a generally parallelogram shape and a plurality of side faces. The flank face is bounded by a plurality of edges. Each edge joins the flank face with one of the side faces. The plurality of edges comprises a first cutting edge and a second cutting edge. The first cutting edge has a shape corresponding to a portion of a first bent curve and the second cutting edge has a shape corresponding to a portion of a second bent curve. The second bent curve is obtainable by a translation of the first bent curve along a width direction of the cutting insert. The cutting insert has a two-fold rotational symmetry with respect to an axis of symmetry that is perpendicular to the width direction, a longitudinal direction of the cutting insert being perpendicular to the width direction and the axis of symmetry.