In a large Dutch oven or heavy pot, heat the olive oil over medium-high heat. Add the beef cubes in batches, browning them on all sides. Remove the beef and set aside.
In the same pot, add the chopped onion and sauté for about 5 minutes until translucent. Add the minced garlic and sauté for an additional 1-2 minutes until fragrant.
Return the browned beef to the pot and stir in the tomato paste and Worcestershire sauce, mixing well.
Pour in the beef broth, bringing the mixture to a gentle simmer.
Add the sliced carrots, cubed potatoes, dried thyme, dried rosemary, salt, and pepper to the pot. Stir to combine.
Cover the pot and reduce the heat to low. Let the stew simmer for about 2 hours or until the beef is tender, stirring occasionally.
About 10 minutes before serving, stir in the frozen peas and let them heat through.
Taste and adjust seasoning if needed.
Serve hot, garnished with chopped fresh parsley for an extra burst of color and flavor.