Heat oven to 150C / fan 130C. Wash the rice and drain well. Butter an 850ml heatproof baking dish then tip in the rice and sugar. Stir through the milk and cream. Add the vanilla pod, sprinkle over with nutmeg and top with the bay leaf.
Cook for 30 minutes then remove the vanilla pod. Cook for a further 60 - 90 minutes (until the pudding wobbles ever so slightly when shaken).
Allow to cool for 10 minutes before serving with a little dollop of jam.