In a medium saucepan, combine all the ingredients. Bring to a bare simmer, cover, and cook for 20 to 25 minutes, until the chicken is very tender and cooked all the way through. Remove the chicken from the pot and bring the mixture to a vigorous boil. Continue to boil for about 10 minutes, until the cooking liquid reduces by half and is thick enough to cling easily to the back of a spoon. Return the chicken to the pot and heat through. Discard the bay leaves. Serve the chicken with the rice and the reduced sauce.