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Refugee settlement is generally conceptualized as a process of adjustment to life in a new country. In Australia, a suite of government-funded services works to support this process. This article extends the field by analysing refugee settlement as a concept constructed in particular socio-political contexts. It draws upon in-depth interviews with 23 informants from settlement services, peak bodies, government and international bodies to identify competing conceptualizations of refugee settlement, and to assess their salience and function in a context of insecurity and fragmentation. Three dominant narratives present settlement as caring for needy refugees, contributing to the productivity of future citizens and building the capacity of refugee settlers. In contrast, two alternative narratives present settlement as a long-term and unruly process that can result in poor outcomes. I argue participants draw from these competing narratives to ultimately construct an account of settlement that validates and protects specialist settlement services in the face of economic and political insecurity. [ABSTRACT FROM AUTHOR]