Washington, Nov 21: Former Tour de France champion Lance Armstrong reached settlement with an insurance company on Wednesday, solving the three-million-dollar lawsuit before giving the sworn testimony.

Both the Acceptance Insurance and Armstrong refused to provide details about the settlement, Xinhua reported.

The company, which provided bonuses for Armstrong during 1999-2001, sued Armstrong and sought for three-million-dollar compensation earlier this year.

Armstrong does not need to show up for the deposition scheduled on Thursday any more because of the settlement.

Armstrong admitted using drugs en route to his seven-time Tour de France champions in an interview with Oprah Winfrey in January, but he has avoided providing sworn testimony since then.

IANS