Simone Biles, McKayla Maroney, Aly Raisman and Maggie Nichols testify during a Senate Judiciary hearing. (Saul Loeb/Getty Images)

USA Gymnastics, U.S. Olympic & Paralympic Committee and their insurers have reached a settlement with the victims of former national team physician Larry Nassar totaling $380 million.

The five-year legal battle will result in the largest-ever recorded payout for victims of sex abuse. It brings an end to a lawsuit 2000 Olympic bronze medalist Jamie Dantzcher filed against USA Gymnastics and the USOPC in September 2016.

Dantzcher’s initial lawsuit led to more than 100 lawsuits representing over 350 of Nassar’s victims. USA Gymnastics filed for bankruptcy in 2018 to put all litigation on hold, including ongoing discovery and depositions. The cases were then consolidated in an effort to have the organization resolve the claims more quickly.

In the three years since, many top American gymnasts have publicly criticized the federation. In September, Simone Biles said she should have “quit way before Tokyo” but didn’t want Nassar to “take that joy away.” She has also said that, as it currently stands, she would not allow her child to be a part of USA Gymnastics. Olympic gold medalist Aly Raisman has also been vocal, calling the organization “rotten from the inside out” in July.

Biles and Raisman were among four gymnasts who testified in front of the Senate Judiciary Committee in September over the FBI’s failures to act in regards to Nassar.

Monday’s agreement comes after USA Gymnastics proposed a $425 million settlement in August. At the time, insurance companies had yet to agree to pay the full amount. The USOPC, which had reportedly proposed a settlement of $360 million, rejected the $400 million agreed upon total.

In late November, the victims voted in favor of a proposed agreement, though TIG Insurance Company had not agreed to pay its contribution on behalf of the USOPC. In bankruptcy court in Indianapolis on Monday, TIG — the final insurer holding out on the settlement agreement — confirmed it will pay a substantial share of the settlement. The USOPC will directly pay around $34 million and make a $6 million loan to USA Gymnastics that will also contribute to the settlement.

The sides also agreed to additional non-monetary conditions, including that survivors of Nassar’s sex abuse will serve on the USA Gymnastics board and in other roles within USA Gymnastics.