Indexable, double-sided cutting insert and cutting tool including such an insert

A cutting tool comprising:

• a cutting insert having a first surface including a first rake surface, a second surface including a second rake surface, a central axis of the insert extending between the first and second surfaces, four side surfaces extending between the first surface and the second surface, and four cutting edges, each cutting edge having a first cutting edge component and a second cutting edge component being associated with a respective one of the first and second surfaces and with two respective ones of the side surfaces, wherein when the insert is flipped 180° around the central axis the first rake surface is identical to the second rake surface and the first rake surface and the second rake surface are oriented at a 90° angle to each other about the central axis of the insert;
• and
• a toolholder including at least one recess in which the cutting insert is mounted so that one of cutting edges of the cutting insert is in a working position, the toolholder having an axis of rotation, the cutting insert revolving around the axis of rotation when the toolholder is rotated around the axis of rotation.