In large bowl, stir together oil, 2 tbsp. Adobo seasoning and 1 tbsp. paprika. Add chicken and toss to coat.
Heat large paella pan over medium-high heat. Cook chicken, turning once, for 6 to 10 minutes or until golden. Using slotted spoon, transfer to plate. Reserve 1 tbsp. of fat in pan; discard remainder.
Add onion to pan and cook, stirring occasionally, for 2 to 3 minutes or until starting to soften. Stir in sofrito and garlic. Cook, stirring occasionally, for 2 to 3 minutes or until fragrant. Add bouillon, rice, Sazón with saffron, remaining Adobo seasoning, remaining paprika and bay leaf. Cook, stirring occasionally, for 2 to 3 minutes or until rice is coated.
Stir in wine and bring to a boil; cook for 1 minute. Add 3 cups water and tomatoes with the juice; bring back to a boil. Spread rice mixture in even layer. Arrange chicken and pimento over top. Reduce heat to medium. Cook, undisturbed, for 15 to 20 minutes.
Nestle shrimp, green beans and peas among rice. Cover and cook, undisturbed, for 5 to 8 minutes or until most of the liquid has been absorbed and shrimp are no longer translucent.
Remove from heat. Discard bay leaf and let stand for 5 minutes. Sprinkle with parsley and garnish with lemon wedges.
Note: Omit green beans or substitute with asparagus if preferred.