In a large bowl, season the stew beef with salt and pepper. Add flour and toss to coat.
Heat olive oil in a large pot over medium-high heat. Add the beef and cook until browned on all sides, about 8 minutes.
Add onion and garlic to the pot and cook until the onion is soft and translucent, about 5 minutes.
Add beef broth, Worcestershire sauce, bay leaves, thyme, paprika, and additional salt and pepper. Bring to a boil.
Reduce heat to low, cover the pot, and simmer for 1 1/2 hours, stirring occasionally.
Add potatoes and carrots to the pot and simmer for another hour, or until the vegetables are tender.
Add frozen peas and simmer for another 5 minutes, or until the peas are heated through.
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