The Catholic Archdiocese of Los Angeles has agreed to pay $880 million to settle sex abuse claims made by more than 1,300 alleged victims dating back to the 1940s.

"I am sorry for everyone one of these incidents, from the bottom of my heart," said Archbishop José H. Gomez in a statement. "My hope is that this settlement will provide some measure of healing for what these men and women have suffered."

The settlement brings the overall amount the Archdiocese of Los Angeles has paid out to settle sex abuse lawsuits to nearly $1.5 billion, following a $660 million settlement with about 500 alleged victims in 2007.

Officials say the agreement in principle was reached to settle the remaining claims filed under Assembly Bill 218, which temporarily waived the statute of limitations for alleged victims to seek damages in sex abuse claims, allowing a three-year window for old cases to be revived, according to Archbishop Gomez's statement.

"This is the largest single child sex abuse settlement with a Catholic archdiocese," said a release from the law firm representing the victims.

Archbishop Gomez approved the settlement and confirmed the administrative office of the Archdiocese will bear the financial responsibility.

"We have determined that funding for this settlement will be drawn from reserves, investments, and loans, along with other Archdiocesan assets and payments that will be made by religious orders and others named in the litigation," Gomez's statement said. "No designated donations to parishes or schools or to archdiocesan-wide collections and campaigns ... will be used for the financing of this settlement."

Payments are expected to be made in 2025 and 2026.

In his letter, Gomez also promised that the church will remain vigilant to make sure that no one serving in the ministry will harm a minor again.

Of the more than 3,000 remaining lawsuits alleging sexual abuse of children that have been filed in California under AB-218, 1,600 were filed in Northern California, 500 in San Diego County and 200 in Orange County, attorneys said. Several California dioceses have filed for bankruptcy protection in the wake of the lawsuits.

"The massive amount of this settlement reflects the amount of grievous harm done to vulnerable children and the decades of neglect, complicity and cover-up by the Archdiocese which allowed known serial predators to inflict this harm. I encourage other religious institutions within the Catholic Church to meet their responsibilities and take accountability," said the victims' attorney Morgan A. Stewart.