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The phrase "agreed to settle" is correct and usable in written English.
It can be used in contexts where parties come to a mutual agreement to resolve a dispute or issue.
Example: "After several rounds of negotiation, both parties finally agreed to settle the matter out of court."
Alternatives: "consented to resolve" or "decided to settle".
Exact(59)
Goldman agreed to settle without admitting or denying the charges.
Most parties agreed to settle.
Citigroup has agreed to settle the case.
Three of the publishers agreed to settle.
Apple agreed to settle two years ago.
It agreed to settle the matter to avoid litigation.
(Hachette, Simon & Schuster and HarperCollins have already agreed to settle).
Several of the publishers have agreed to settle the case.
They agreed to settle the suit for $162 million.
Two weeks ago, Mr. de Blasio finally agreed to settle.
Similar(1)
Al-Qaddafi agreed to settle with the families, but never directly admitted Libya's operational role.
More suggestions(19)
agreed to solve
agreed to finalize
encouraged to settle
agrees to settle
arranged to settle
guaranteed to settle
share to settle
negotiated to settle
preferred to settle
accepted to settle
targeted to settle
shares to settle
agreed to come
agreed to keep
agreed to knock
agreed to continue
agreed to run
agreed to abstain
agreed to repaint
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com