In a large pot or Dutch oven, heat the olive oil over medium-high heat. Add the beef cubes and brown them on all sides, about 5-7 minutes. Remove the beef and set aside.
In the same pot, add the chopped onion and garlic. Sauté until the onion is translucent, about 3-4 minutes.
Return the browned beef to the pot. Stir in the beef broth, carrots, potatoes, celery, thyme, rosemary, bay leaves, salt, pepper, tomato paste, and Worcestershire sauce. Bring to a boil.
Reduce the heat to low, cover, and let simmer for 1.5 to 2 hours, or until the beef is tender.
In the last 10 minutes of cooking, stir in the frozen peas. Adjust seasoning if necessary.
Remove the bay leaves before serving.