2743278 - AS Java handshake failure - iaik.security.ssl.SSLException: Server does not support secure renegotiation!

SAP Process Integration system (SSL Client) tries to establish connection to a third party server (SSL Server) and the following exception can be found in XPI Inspector trace:

SOAP: Failed to get the input stream from socket: iaik.security.ssl.SSLException: Server does not support secure renegotiation!

Exception Occured: Server does not support secure renegotiation!

Begin IAIK Debug:
ssl_debug(1304): Starting handshake (iSaSiLk 5.106)...
ssl_debug(1304): Sending v3 client_hello message to <hostname>:443, requesting version 3.3...
ssl_debug(1304): Received v3 server_hello handshake message.
ssl_debug(1304): Server selected SSL version 3.3.
ssl_debug(1304): Sending alert: Alert Fatal: handshake failure
ssl_debug(1304): Shutting down SSL layer...
ssl_debug(1304): SSLException while handshaking: Server does not support secure renegotiation!
ssl_debug(1304): Closing transport...

• SAP NetWeaver Application Server Java as of 7.1X version
• SAP Process Integration (PI)

SSLException, Server does not support secure renegotiation, Server does not support secure renegotiation!, Failed to get the input stream from socket, iaik.security.ssl.SSLException , KBA , BC-JAS-SEC-CPG , Cryptography , BC-XI-CON , Connectivity , Problem