In a large pot or Dutch oven, heat the olive oil over medium-high heat. Add the beef cubes in batches, searing them on all sides until browned (about 5-6 minutes per batch). Remove the beef and set aside.
In the same pot, add the chopped onion and minced garlic. Sauté for about 3 minutes until the onion becomes translucent.
Stir in the tomato paste, cooking for an additional minute. Then, return the beef to the pot along with the beef broth.
Add the sliced carrots, cubed potatoes, thyme, rosemary, bay leaves, Worcestershire sauce, salt, and pepper to the pot. Bring to a boil.
Reduce the heat to low, cover the pot, and let it simmer for about 1.5 to 2 hours, stirring occasionally, until the beef and vegetables are tender.
About 10 minutes before serving, stir in the frozen peas to retain their vibrant color and crunch.
Taste and adjust the seasoning with more salt and pepper if needed before serving.
Notes
Ladle the beef stew into deep bowls and garnish with freshly chopped parsley for a pop of color. Serve with crusty bread on the side for dipping.