Abstract：Systemic risk (SR) is considered as the risk of collapse of an entire system, which has played a significant role in explaining the recent financial turmoils from the insurance and financial industries. Following recent studies of systemic risk in banking, finance, and insurance, we quantify systemic risk measures such as the measure of risk contagion, systemic expected shortfall (SES) and marginal expected shortfall (MES) in a general context of quantitative risk management and link them to a confidence level q∈(0,1). The limit behaviors of these systemic risk measures are investigated in this talk with the help of general notions of Extreme Value Theory (EVT). Numerical studies are provided to illustrate our theoretical findings. In the context of interest, the EVT approach has an immediate implication for determining the systemic importance under modern prudent regulatory frameworks.