Place a large pot over medium heat and add the olive oil. Add the onion, garlic, carrots, celery, thyme and bay leaf. Cook and stir for about 6 minutes, until the vegetables are softened but not browned.
Pour in the chicken broth and water and bring the liquid to a boil. Add in the rice and chicken; season with salt and pepper.
Cook on medium-low until the rice is tender, about 25-30 minutes. Serve warm.
