Caribbean Arroz con Pollo

WHAT YOU'LL NEED

• 2 tsp. oil
• 3 1/2 lbs. whole chicken, cut into 10 pieces
• 1 medium onion, chopped
• 1 medium red bell pepper, chopped
• 1 1/2 cups long grain rice
• 3 cups water
• 1 packet Knorr® Mi Arroz™ Red Rice Seasoning Mix
• 1 small bay leaf
• 1/2 cup sliced pimiento stuffed olives
• 1 cup frozen green peas, thawed
• 2 Tbsp. finely chopped fresh parsley leaves or to taste