Some 38 people – 30 British and three Irish – were shot dead when a gunman opened fire on holidaymakers in the Tunisian beach resort in June 2015.

A joint statement from Tui and legal firm Irwin Mitchell, which acted on behalf of the claimants, said the tragic events of 26 June 2015 were both shocking and devastating, changing the lives of those affected forever.

"Tui has always expressed heartfelt condolences to the families and friends of those caught up in the terrorist attack that day and continue to extend deepest sympathy," read the statement.

"The claimants have fought tirelessly to understand how the attack happened and to seek to ensure that lessons have been learned so that other families are not affected by similar tragedy."

The statement further confirmed a settlement had been reached.

"Tui has worked collaboratively with the claimants and their representatives Irwin Mitchell to reach a settlement without admission of liability or fault and in recognition of the wholly exceptional circumstances of the case, and in the hope that it will go some way to assisting the claimants," it continued.

"Tui appreciates how difficult it must be to move on from such a horrific incident but hopes today will provide the opportunity for those affected to start to do so."