Using social assistance systems to address acute needs arising from wide-scale shocks – commonly known as ‘shock-responsive social protection’ (SRSP) – raises significant political economy questions. Previously, acute needs caused by disasters across sub-Saharan Africa have primarily been met by humanitarian actors alone. SRSP disrupts the status quo by reducing humanitarian actors’ access to and control over humanitarian funding. This raises significant political questions; likewise, the introduction by SRSP of greater accountability and transparency into the implementation of humanitarian responses. This article addresses a current gap in the literature: the politics of SRSP. Referencing the concept of political settlements, the article asks what explains the evolution of SRSP in Malawi by examining the actions of domestic and international actors. It finds that there is scant evidence of national ownership of SRSP and that lack of consensus among international actors is a key obstacle to the concept becoming embedded within the political settlement.