An indexable double-ended cutting insert having an insert symmetry axis, about which the cutting insert has 180° rotational symmetry, the insert symmetry axis defining an upward to downward direction, the cutting insert comprising: an insert upper surface, an opposing insert lower surface, two opposing insert side surfaces extending therebetween, and opposing end surfaces extending between the insert upper and lower surfaces (24, 26) and between the insert side surfaces; a longitudinally extending body portion having a central portion and two insert cutting portions located at opposite ends of the body portion and formed integrally with the central portion; and characterised by an insert clamping portion extending downwardly from the central portion in a direction away from the insert upper surface; each insert cutting portion has a rake surface formed in the insert upper surface and a relief surface adjacent the rake surface, the rake and relief surfaces (36, 38) meeting at an edge, at least a portion of the edge forming a front cutting edge; the insert lower surface comprising a bottom surface located on the insert clamping portion and facing in a direction away from the insert upper surface, two insert abutment surfaces, two first locating surfaces and two second locating surfaces; the two first locating surfaces and two insert abutment surfaces being located on the insert clamping portion, each first locating surface and each insert abutment surface extending from the bottom surface towards a respective adjacent second locating surface, each second locating surface being located on a respective insert cutting portion; each first locating surface defining an insert locating axis; wherein: in an end view of the cutting insert, the insert locating axes of the first locating surfaces form an acute angle α therebetween. an insert upper surface, an opposing insert lower surface, two opposing insert side surfaces extending therebetween, and opposing end surfaces extending between the insert upper and lower surfaces (24, 26) and between the insert side surfaces; a longitudinally extending body portion having a central portion and two insert cutting portions located at opposite ends of the body portion and formed integrally with the central portion; and characterised by an insert clamping portion extending downwardly from the central portion in a direction away from the insert upper surface; each insert cutting portion has a rake surface formed in the insert upper surface and a relief surface adjacent the rake surface, the rake and relief surfaces (36, 38) meeting at an edge, at least a portion of the edge forming a front cutting edge; the insert lower surface comprising a bottom surface located on the insert clamping portion and facing in a direction away from the insert upper surface, two insert abutment surfaces, two first locating surfaces and two second locating surfaces; the two first locating surfaces and two insert abutment surfaces being located on the insert clamping portion, each first locating surface and each insert abutment surface extending from the bottom surface towards a respective adjacent second locating surface, each second locating surface being located on a respective insert cutting portion; each first locating surface defining an insert locating axis; in an end view of the cutting insert, the insert locating axes of the first locating surfaces form an acute angle α therebetween.