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Investment losses caused Kansas City Life Insurance Co.’s 86 percent decrease in second-quarter earnings, and revenue fell 10.6 percent from the same quarter last year.

In a release after the market closed on Thursday, the Kansas City-based company (Nasdaq: KCLI) reported earnings of $1.7 million, or 14 cents a share, for the quarter that ended June 30. This compares with earnings of $11.8 million, or $1 a share, last year.

Impairment write-downs in debt securities affected by leveraged buyouts, problems in the residential mortgage market and structured securities indirectly affected by the residential mortgage market largely caused the investment losses, the company said. Decreasing interest rates during most of the past 12 months also contributed to the lower investment revenue.

Revenue for the quarter was $98.3 million, down from $109.9 million last year.

Kansas City Life Insurance ranks No. 21 on the Kansas City Business Journal’s list of area public companies.

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