Brown chicken in olive oil over medium heat. Remove chicken from pot.
Add onions, green pepper, and garlic. Continue cooking until slightly brown, about 5 minutes.
Return chicken to pot and stir in salt, bay leaf, tomatoes, and pepper. Add rice, water (in which 2 chicken bouillon cubes have been dissolved), and wine.
Dissolve saffron in small amount of water and add to pot (or use a few drops of yellow food coloring mixed with water). Bring to a boil.
Bake in preheated oven at 350F for 20 minutes. Garnish with green peas, olives, and pimientos.
