A cutting insert for use in a milling cutter comprising: two identical opposing end surfaces (102a, 102b), each end surface being provided with an abutment surface; a peripheral side surface extending between the two opposing end surfaces (102a, 102b), the peripheral side surface comprising two opposing major side surfaces (112a, 112b), two opposing minor side surfaces (114a, 114b) and corner side surfaces (116a, 116b, 116c, 116d) located between adjacent major and minor side surfaces; a peripheral edge (120a, 120b) formed at the intersection of each end surface (102a, 102b) and the peripheral side surface; each end surface (102a, 102b) having four corners (130a, 130b, 130c, 130d) including two diagonally opposed lowered corners (130a, 130d) and two diagonally opposed raised corners (130b, 130c)), the lowered corners (130a, 130d) being closer than the raised corners (130b, 130c) to a median plane of the cutting insert which median plane passes through the major and minor side surfaces (112a, 112b, 114a, 114b) and is mid-way between the end surfaces (102a, 102b); wherein: at least one peripheral edge comprises two sets of cutting edges, each set of cutting edges comprising: a raised corner cutting edge associated with a first corner side surface; a major cutting edge adjacent to the raised corner cutting edge and extending along a first major side surface; a lowered corner cutting edge associated with a second corner side surface, the second corner side surface and the first corner side surface sharing the first minor side surface; characterized in that each set of cutting edges further comprises a raised corner wiper edge adjacent to the raised corner cutting edge and extending along a first minor side surface which shares the first corner side surface with the first major side surface; a lowered corner wiper edge adjacent to the lowered corner cutting edge and extending along the first minor side surface towards the raised corner wiper edge; wherein each corner side surface (116a, 116b, 116c, 116d) is provided with a concave clearance depression which extends from the lowered corner cutting edge, past the median plane, and in a direction of, but not intersecting, a raised corner cutting edge associated with the opposite peripheral edge, the concave clearance depression forming a relief surface for the lowered corner cutting edge and being visible in both a major side view and a minor side view of the cutting insert. two identical opposing end surfaces (102a, 102b), each end surface being provided with an abutment surface; a peripheral side surface extending between the two opposing end surfaces (102a, 102b), the peripheral side surface comprising two opposing major side surfaces (112a, 112b), two opposing minor side surfaces (114a, 114b) and corner side surfaces (116a, 116b, 116c, 116d) located between adjacent major and minor side surfaces; a peripheral edge (120a, 120b) formed at the intersection of each end surface (102a, 102b) and the peripheral side surface; each end surface (102a, 102b) having four corners (130a, 130b, 130c, 130d) including two diagonally opposed lowered corners (130a, 130d) and two diagonally opposed raised corners (130b, 130c)), the lowered corners (130a, 130d) being closer than the raised corners (130b, 130c) to a median plane of the cutting insert which median plane passes through the major and minor side surfaces (112a, 112b, 114a, 114b) and is mid-way between the end surfaces (102a, 102b); at least one peripheral edge comprises two sets of cutting edges, each set of cutting edges comprising: a raised corner cutting edge associated with a first corner side surface; a major cutting edge adjacent to the raised corner cutting edge and extending along a first major side surface; a lowered corner cutting edge associated with a second corner side surface, the second corner side surface and the first corner side surface sharing the first minor side surface; characterized in that each set of cutting edges further comprises a raised corner cutting edge associated with a first corner side surface; a major cutting edge adjacent to the raised corner cutting edge and extending along a first major side surface; a lowered corner cutting edge associated with a second corner side surface, the second corner side surface and the first corner side surface sharing the first minor side surface; characterized in that each set of cutting edges further comprises a raised corner wiper edge adjacent to the raised corner cutting edge and extending along a first minor side surface which shares the first corner side surface with the first major side surface; a lowered corner wiper edge adjacent to the lowered corner cutting edge and extending along the first minor side surface towards the raised corner wiper edge; wherein each corner side surface (116a, 116b, 116c, 116d) is provided with a concave clearance depression which extends from the lowered corner cutting edge, past the median plane, and in a direction of, but not intersecting, a raised corner cutting edge associated with the opposite peripheral edge, the concave clearance depression forming a relief surface for the lowered corner cutting edge and being visible in both a major side view and a minor side view of the cutting insert.