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Season the beef cubes generously with salt and pepper.
Heat 2 tablespoons of olive oil in a large pot over medium-high heat. Add the beef and sear until browned on all sides. Remove the beef from the pot and set aside.
In the same pot, add the remaining tablespoon of olive oil and the onion. Cook until the onion is translucent, then add the garlic and cook for an additional minute.
Sprinkle the flour over the onions and garlic, stirring to coat. Cook for 2 minutes.
Stir in the beef broth, tomato paste, thyme, rosemary, and bay leaves. Return the beef to the pot.
Bring the stew to a boil, then reduce the heat to low and simmer, covered, for 1.5 hours.
Add the carrots and potatoes to the pot. Continue to simmer, covered, for another 45 minutes or until the vegetables and beef are tender.
Stir in the frozen peas and cook for an additional 5 minutes.
Adjust seasoning with salt and pepper as needed. Garnish with fresh parsley before serving.
Prep Time: 20 minutes | Cooking Time: 2 hours 30 minutes | Total Time: 2 hours 50 minutes
Calories: 510 kcal | Servings: 6 servings