Heat olive oil in a pot over medium heat. Saute the onion and carrot until soft, about 5-6 mins.
Add garlic to the pot and continue to saute for about 30 seconds.
Add chicken broth, diced tomatoes, half of the basil leaves, tomato paste, bay leaf, salt, and pepper to the pot. Bring to a boil. Cover and simmer on medium/low for 15 mins.
Remove bay leaf. Add the other half of the basil leaves to the pot.
Using an immersion blender or a standing blender, blend until creamy. Add tortellini to the pot. Cook on medium heat for 10 mins.
Add heavy cream, stir until well incorporated and heated through, about 2 mins.
Garnish with fresh basil and serve.